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China Local-Authority Financing Not ‘Severe’ Issue, Moody’s Says

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June 29 (Bloomberg) -- China’s local-government financing vehicles won’t create a “severe” problem based on initial analysis by Moody’s Investors Service, said Tom Byrne, a senior vice president of the rating company’s sovereign risk unit.

Moody’s expects any losses from the financing arms to come in 2012-2013 rather than immediately, and any migration to the central government’s balance sheet will be limited, Byrne said at a conference in Shanghai today.

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To contact the reporter on this story: Jun Luo in Shanghai at

To contact the editor responsible for this story: Joshua Fellman at